Florida Dept. of Revenue Submit Corporate Income Tax Information (2023)

The following information is required to be submitted to the Department.

Florida corporate income/franchise tax return or schedule

• Taxpayer name and federal employer identification number (FEIN)
• Taxable-year beginning date and ending date
• Filing basis of taxpayer's Florida corporate income/franchise tax return
• Federal taxable income
• Florida apportionment fraction
• Florida net operating loss carryover to next taxable year
• Florida alternative minimum tax credit carryover to next taxable year

Federal corporate income tax return or schedule

• Federal net operating loss deduction applied in determining federal taxable income (federal Form 1120 filers, Line 29a)
• Federal net operating loss carryover that was not applied due to the limitation under Section 172(a)(2), Internal Revenue Code (IRC) (80% of taxable income computed without regard to the deduction allowable under Section 172, IRC – applicable to losses generated in taxable years beginning after December 31, 2017)

Form 8993 - Section 250 Deduction for Foreign-Derived Intangible Income (FDII) and Global Intangible Low-Taxed Income (GILTI)

• Foreign-Derived Intangible Income (FDII) (federal Form 8993, Part IV, Line 3a)
• Global Intangible Low-Taxed Income (GILTI) included in federal taxable income (federal Form 8993, Part IV, Line 3b)
• Amount of FDII-related deduction under Section 250, IRC (federal Form 8993, Part IV, Line 8)
• Amount of GILTI-related deduction under Section 250, IRC (federal Form 8993, Part IV, Line 9)

Form 8990 - Limitation on Business Interest Expense Under Section 163(j)

• Amount of disallowed business interest expense carried over from previous taxable years (federal Form 8990, Part I, Section I, Line 2)
• Amount of business interest expense deduction (federal Form 8990, Part I, Section IV, Line 30)
• Amount of current-year business interest expense not deducted due to limitation under Section 163(j), IRC (federal Form 8990, Part I, Section IV, Line 31)

North American Industry Classification System (NAICS) Code

• NAICS code (2007) for business activity generating the greatest amount of gross receipts for the taxpayer. If you don't know your NAICS code, see the NAICS website.

A new law (Chapter 2019-168, Laws of Florida, creating section 220.27, F.S.) requires that taxpayers filing a Florida corporate income/franchise tax return (Form F-1120 or F-1120A) for taxable years beginning during the 2018 and 2019 calendar years report additional information to the Florida Department of Revenue. A list of the requirements and information needed are found in Tax Information Publication #19C01-03.

The Department has issued Emergency Order No. 19-002 implementing provisions of the Governor’s Executive Order No. 19-190 (RE: Hurricane Dorian), which states that the Department recognizes emergency preparations for, and response to, Hurricane Dorian may impede taxpayers’ ability to submit Corporate Income Tax (CIT) Additional Information, on or before the September 3, 2019 filing date provided for by law.

Therefore, the Department will consider submissions of CIT Additional Information made on or before October 27, 2019, timely and will automatically waive any penalty under section 220.27(1)(e), F.S., that would otherwise be due. CIT Additional Information due after October 27, 2019, must be submitted within 10 days of the extended due date or the date the related return is filed, whichever is earlier.

For each taxable year that begins during the 2018 and 2019 calendar years, you are required to report the additional information. The additional required information is due the earlier of 10 days after the extended due date of the Florida corporate income/franchise tax return (Forms F-1120 or F-1120A), or 10 days after the tax return is filed.

Important Notice: It is highly recommended that you collect the required information before starting the online application.

If you submit an incomplete report, an error message will be displayed, and you must go back and complete or correct the report and submit again. If you do not receive a confirmation number, your information has not been accepted. You cannot save partial information for completion at another time.

If you are ready to submit your additional required information, click Submit Corporate Income Information.

1. Does a partnership, or a limited liability company (LLC) treated as a partnership, need to submit the additional required information? No. A partnership does not file Form F-1120 or F-1120A, so it does not have to submit the additional required information.
2. Does a corporation that is tax-exempt under Section 501(c)(3), Internal Revenue Code, need to submit the additional required information? If the corporation filed a Florida corporate income/franchise tax return, it must submit the additional required information.
3. Does a Sub-S corporation need to submit the additional required information? If the Sub-s corporation filed a Florida corporate income/franchise tax return, it must submit the additional required information.
4. If a corporation has two short taxable years that begin in 2018 (e.g., January 1, 2018 – May 28, 2018, and May 29, 2018 – December 31, 2018), are two separate online submissions required – one for each taxable year? Yes. For each taxable year that begins during the 2018 and 2019 calendar years, you need to report the additional required information.
5. Can my accountant submit the online information for my corporation? Yes. Section 220.27(1)(c), F.S., allows an officer of the taxpayer or a person duly authorized to act on the taxpayer's behalf, including an accountant, to submit the information and certify that the information is true and correct.
6. If an affiliated group files a consolidated Florida Form F-1120 for the taxable year ending December 31, 2018, is a separate submission required for each member of the affiliated group? No. Only one online submission for the affiliated group is required for that taxable year.
7. If an affiliated group files a federal consolidated income tax return and separate Florida corporate income/franchise tax returns, is a separate online submission for each filed Florida Form F-1120 required? Yes. A separate online submission is required for each Florida Form F-1120 or F-1120A filed, and the information is contained in the pro-forma federal income tax return.
8. How should online submissions be corrected when an error in the previous submission for a taxable year is discovered? Once the information is submitted and the confirmation page is shown, the submission is complete. A filer can view previously submitted information; however, the system will not allow for accepted information to be edited. To submit corrected information, a filer must resubmit the additional required information for the taxable year. The most recent submission for a taxable year will be considered the correct submission.